Bloomberg The race to succeed UniCredit SpA Chief Executive Officer (CEO) Jean Pierre Mustier is accelerating, with the Italian bank trimming its list of preferred candidates to just three or four after high-profile names such as Tidjane Thiam dropped out of contention. The bank is now seeking to name a successor earlier than its initial target of February 10, according ...

Bloomberg Australia’s central bank is worried an extended period of very low interest rates could spur borrowers to take on more debt than they can handle — particularly if lending standards slip and risk appetite increases. Documents under a Freedom of Information request show the Reserve Bank of Australia saw risks in its decisions to cut the key interest rate ...

Bloomberg Europe’s central banks are ramping up their efforts to support green finance as authorities contemplate how to fight climate change while rebuilding their economies after the pandemic. The latest initiative includes a fund launched by the Bank for International Settlements for green-bond investments by central banks. The European Central Bank (ECB) committed to buy into the initiative, and announced ...

Bloomberg Tencent Holdings Ltd. slumped after a world-beating surge in the stock pushed its market value to the cusp of $1 trillion for the first time. The Chinese internet behemoth lost 6.3% in Hong Kong on Tuesday, putting its market capitalisation below $890 billion. Traders took profit after Monday’s 11% rally, which was Tencent’s biggest in almost a decade. Adding ...

Bloomberg Global stocks were mixed as M&A deals gave a boost to Europe, while worries about new virus variants and hurdles to the Biden administration’s stimulus proposal fanned a risk-off mood in the US and Asia. S&P 500 equity futures dropped, while Treasury yields climbed as President Joe Biden said he’s open to negotiating his $1.9 trillion Covid-19 relief proposal. ...

ABU DHABI / WAM Abu Dhabi Department of Economic Development (Added) has launched the “Made in Abu Dhabi” campaign to promote national products manufactured in Abu Dhabi emirate in order to enhance their competitiveness and encourage consumers to ‘buy local’. In addition, it will incentivise manufacturers to display the approved campaign logo on their products. In order to communicate the ...

ABU DHABI / WAM Abu Dhabi Ports has inked a 50-year land lease agreement with Anchorage Investment, for the development of grain storage and processing plants at Khalifa Port, to be managed by National Feed, one of the largest Agro commodity processors in Abu Dhabi. Set to be developed on a 100,000-sqm plot, and with an initial design capacity of ...

Abu Dhabi / WAM Adnoc Distribution has delivered on its promises to customers in 2020 by increasing its service station network and modernising its Adnoc Oasis convenience stores, offering customers greater convenience, together with a fresh, modern environment to make more out of every visit to an Adnoc Service Station. A total of 64 new stations opened across the UAE ...

ABU DHABI / WAM The UAE has strongly condemned the Iranian-backed terrorist Houthi militia’s attempts to target civilian areas in Riyadh, Saudi Arabia, with a missile intercepted by Saudi air defences. In a statement by the Ministry of Foreign Affairs and International Cooperation on Monday, the UAE renewed its full solidarity with the Kingdom over these subversive terrorist attacks and ...

DUBAI / WAM The Dubai Gold & Commodities Exchange (DGCX) on Monday announced that it has launched a 12.5kg physically delivered Daily Gold Futures Contract, available for trading from Monday. As the first-of-its-kind in the region, the contract builds on DGCX’s growing suite of precious metal products. The Daily Gold Futures Contract was introduced in response to increased market demand ...